The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-03-11
LOTTERY BOND SWINDLE
0EKMAN CIrIK Ems OF LOUIS
VILE INVEST
A Considerable SUM Of Money In
EurOpeaa ~ y BOnds Upon the
Recon- mond atfOn OF n Crook.

LOUISVILLE, KY, March l0.-About
three months ago. q good looking.
plausible person, whose business card
bore the ADDRESS: X. II Horner,
banker, No. 90 Wall street, Nsw York,
appeared In this city. Mr.. II ,rner
had bonds for sale. He always sold
his bonds In los of FIVE, com prising
one bond Of the city OF Bucharest,
date 1869. one Austrian Red Cross
bond, Que Italian Red Cross bond, one
Hungarian Red Gross bond, aud one
Premium bond Of the city Of Milan,
date 1855. All these are what are
called lottery bonds, a kind unknown
in this cou llry. they do not have
any fscs vaus when issued, but each
Ia equivalent to ticket Ia a lottery.
The x Ivernment holds every year 30
many drawings, ranging from four to
twenly-tix, according to the cbarsc.
Ter Of the bond. II the holder has o
lucky number he may get the very
next we, k after he buys bis bond a
sum varying from $40 10 $4,000. Ga
the contrary, he may draw nothiog
for thirty years, or any other length
Of time necessary 10 elapse before the
bond natures. Mr. HornPr, in order
TO suit the purses OF the maj ority, sold
his bonds on the installment plan.
He issued first AGATE, on which
were printed In parallel English and
German the conditions, in compli.
ance with which the purchaser could
secure bis q 70 bonde. He was 10 pay
IS q week Tor twenty weeks, or 800 in
all, and then the bends would be sent
to him. IL ut any time by the 10Th Of
the month he failed to receive the reg
ulaI insia lment, Mr.. Horner reserved
10 himself the right to sell the ret of
bonds, and II they fol ed to bring the
nominal value, 800, he was TO reim-
burse .himself from the installments.
III there was any remainder, IL was to
he RENTED TO the origiaal purchaser.
He disposed oil about $4,000 worth Of
the bonds in this city, principally TO
g rman citis ,ns. Alter spending
about a week here, he left for the
East. The purchasers RENTED their
but several days ago
some OF them began to get little I'M
easy, and to wish that they had inves-
gated further before buying. They
were especially alarmed about their
city Of Bucharest bonds. Bucharest is
the capital OF Roumania, which, bv the
treaty of Berlin after the Russo. Turk
lsh war, WAS cut of from Turkey and
made an independo ut country. Recent
Tumors of wars in Roumania scent d
likely TO depreciste her bonds. Aus
TRAN bonds were affected Ia the same
The natter was placed In
the hands OF a lead ng hauker, whose
corTesp ndent in New York City In
formed him that MIR II rder was very
little known in New York. He had a
small Office on Broad v ay, not on Wall
} rect, as his business card indicated,
and in the list Of brokers and com.
men was not quoted at all.
Inc New York spondent also
said That any amount II the bonds
sold IN Louisville by MIR. Horner could
be ubtai ed at the fol owog prices:
D ty OF Bucharest, $40; Austrian Red
O,Oss, 80; Italian Rad Joss, 81; Huu-
larlsn Red Gross, 81 rs; City # Milan,
"a rs, or for an entire 8 /, $32 so. MIR.
Homer received $l00 and the bonds
were not furnished until the end of
twenty wet ks.